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Digi Power X Reports Record 2024 Financial Results With 42% Revenue Growth and 228% EBITDA Turnaround
MIAMI, March 31, 2025 (GLOBE NEWSWIRE) -- Digi Power X Inc. (“ Digi Power X ” o...
About this update from Digi Power X Inc.
[{"type":"text","content":"Digi Power X Reports Record 2024 Financial Results With 42% Revenue Growth and 228% EBITDA Turnaround\n\n\n\n MIAMI, March 31, 2025 (GLOBE NEWSWIRE) -- Digi Power X Inc. (“\n \n Digi Power X\n \n ” or the “\n \n Company\n \n ”) (Nasdaq: DGXX / TSXV: DGX), an innovative energy infrastructure company that develops cutting-edge data centers, is pleased to provide a summary of the Company’s audited financial results for the year ended December 31, 2024 (all amounts in U.S. dollars, unless otherwise indicated), and a 2025 year-to-date update on operations. The Company’s annual report on Form 20-F, which includes audited consolidated financial statements and management’s discussion and analysis (“\n \n MD&A\n \n ”) for the year ended December 31, 2024, has been filed and made accessible under the Company’s continuous disclosure profile on SEDAR+ at\n \n www.sedarplus.ca\n \n and is also available on EDGAR at\n \n www.sec.gov/edgar\n \n .\n \n\n Michel Amar, Chairman and CEO of Digi Power X, commented, “2024 marked a record-setting year for Digi Power X, with revenue rising 42% year-over-year to $37.0 million, driven by exponential growth in colocation services and the strategic diversification of revenue streams beyond digital currency mining. The Company also reported a remarkable 228% improvement in EBITDA, from a loss of $6.9 million in 2023 to a gain of $8.8 million in 2024, underscoring the operational strength and scalability of our business model. Going forward, we believe our ability to pivot toward high-margin, recurring colocation revenues, while leveraging our low-cost energy access and robust infrastructure, will help position the Company to be a rising leader in energy-backed digital infrastructure.”\n \n\n Amar continued, “Looking ahead, Digi Power X is expanding its capabilities through the recent formation of U.S. Data Centers, a wholly owned subsidiary focused on the development of AI-ready Tier 3 data centers. This strategic move reflects the Company’s ambition to be a leader in the buildout of advanced computing capacity across the U.S., while further monetizing its energy assets.”\n \n\n\n Highlights for Fiscal 2024 are as follows:\n \n\n\n\n Revenue grew by 42% year-over-year to $37.0 million as compared to...